U.S. Nov. trade gap narrows to $38.3 bln

WASHINGTON (MarketWatch) -- The U.S. trade deficit narrowed by 0.3% in November to $38.3 billion, the Commerce Department said Thursday. Economists had expected a rebound in November after the sharp narrowing of the deficit in October of almost 14%. The consensus forecast of Wall Street economists surveyed by MarketWatch was for a deficit of $40.3 billion. Exports rose faster than imports in November. The U.S. trade deficit with China widened to $25.63 billion in compared with $20.17 billion in the same month last year and $25.51 in October. China's president Hu Jintao will come to Washington for a state visit next week. The U.S. is running a $252 billion deficit with China in the first eleven months of the year. In November, exports to China hit a new record high, the government said.

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